Micron raises US chip investment to $250 billion through 2035, pours first concrete at New York megafab

Micron Technology announced on July 9 that it is raising its planned US semiconductor investment to more than $250 billion through 2035, up from the $200 billion commitment it announced last June. The company marked the increase with the first concrete pour at its Clay, New York fab site, a milestone it says arrived more than a quarter ahead of the original schedule, as first reported via the company's press release on GlobeNewswire.

The jump matters because it signals how sharply demand for memory chips has accelerated as AI infrastructure buildouts scale. Micron CEO Sanjay Mehrotra tied the increase directly to that demand, saying the company is "increasing our U.S. investments to more than $250 billion through 2035 to meet that moment." DRAM and other memory chips have become a bottleneck for AI data center buildouts over the past year, and Micron's expansion is a direct bet that this demand holds for the next decade.

The New York site is designed to become the largest semiconductor manufacturing site in US history, with room for up to four fabs. Micron says the project will support close to 50,000 jobs in New York alone, including roughly 9,000 direct Micron positions, with over 80% of current site workers drawn from the local New York workforce. Across all its US sites, Micron expects the investment to support close to 100,000 jobs total.

Progress is also accelerating outside New York. Micron's Idaho fabs are on track for first wafer output in mid-2027 for the first facility and late 2028 for the second, while its Virginia site has already begun production of 1-alpha DDR4 memory. Separately, Micron plans to invest up to $3 billion in building out the broader domestic semiconductor supply chain that supports these fabs, including additional US-based silicon wafer manufacturing capacity.

Micron's target is to manufacture 40% of its DRAM output in the US by the end of the buildout — a significant reshoring shift for an industry that has spent decades concentrating advanced memory production in Taiwan, South Korea, and Japan. With AI-driven memory demand showing no signs of slowing, Micron's accelerated timeline puts pressure on rivals SK Hynix and Samsung to match the pace of US capacity expansion or risk ceding ground in the world's largest chip-consuming market.